Moving is hard enough without the added stress of having to pay your rental bond up front. Paying your rental bond in 6 or 12 monthly instalments with easybondpay can take the stress out of moving. It's simple to apply, and a decent credit score isn't required. Simply tell your property manager that you'd like to pay your bond through easybondpay, and they'll handle the rest.
Paying your rental bond in monthly instalments allows you to put money aside for other activities, such as relaxing in your new home. We'll go over the essentials of easybondpay in this article.
What Are The Benefits To Renters Using Easybondpay?
Easybondpay is a brand-new bond payment service for tenants and property managers who want to simplify the bond payment procedure.
· Same-day approvals and bond payments
· loans of 3 or 6 month terms
· fortnightly payment option available
· competitive interest rates
· there is no minimum or maximum bond value;
· the bond is split amongst households;
· approximately 4000 agencies across Australia accept the bond
Who May Be Eligible For an Easybondpay?
Easybondpay follows ethical lending methods, so applicants who can repay the loan within the agreed-upon time frame may be qualified.
• 18 years of age or older
• employed on a casual, part-time, or full-time basis
• Centrelink payments comprise less than 50% of income
• earn more than $500 per week
• Centrelink payments can't be your only source of income, so you must also work
• Not in default under any other credit contract
• living in Australia (citizen, permanent resident, on a working visa or sponsorship visa)
How Does Easybondpay Work?
Easybondpay provides same-day rental bond loans that allow you to extend the cost of your rental bond across three or six months, with fortnightly instalments available. Monthly instalments will be withdrawn until the bond is entirely paid off. There are no more documents required, and you can pay it in three or six instalments.
Once you've been approved for your rental property, just tell your property manager that you'd want to pay your bond with easybondpay. After you complete our simple individual online application for your half of the bond, they’ll call your property management to verify basic information about your tenancy. After that, you'll receive an electronic loan offer, which will require you to complete an income verification check before being approved.
The lending expert will contact you within 4 business hours to let you know if your application has been approved. If your application is approved, you will be sent an email with a link to pay your first instalment. Once this is paid, you will be able to settle the bond with your agent within one business day.
What is the Ideal Time to Repay the Loan?
It's simple to apply, and there's no need to have a good credit score. Simply inform your property manager that you wish to pay your bond using easybondpay, and they will take care of the rest. Paying your rental bond in monthly payments allows you to save money for other things, such as enjoying your new home.
Most lenders provide 3- or 6-month financing, which corresponds to most residential lease agreements. If you want to pay off your loan sooner than the agreed-upon finance period in your contract, you'll just have to pay a flat $20 pay out fee to complete your loan.
How much is the Interest Rate?
To offset our costs, easybondpay offers a low interest rate of less than 16 percent on the diminishing balance of your loan, as well as an application charge and monthly administration fees. The interest rate that must be paid varies depending on the length of time that the bond is financed. On the terms and conditions, which are included with each application, they show the total cost to you in bold.
Conclusion
Easybondpay is a new bond payment solution designed for tenants and property managers looking to streamline the bond payment process. The easybondpay is a straightforward and convenient financing solution that lets you pay for your new bond in three or six monthly instalments, with the option of weekly payments. Paying your rental bond in smaller amounts allows you to put money towards other things, such as enjoying your new property.